Fintech startup NiYO has partnered with Yes Bank to turn out benefits to their employees. NiYO was launched in 2015 to benefit employee and payroll companies and allow employees to access and control their capitals. NiYO will provide benefit card to Yes Bank existing smart salary customers in 2000 companies. NiYO and Yes Bank have planned to provide these services to 20,000 companies and 5 million customers in the next five years.

23rd Aug 16 Yes Bank launches 7 credit cards

Yes Bank has launched seven credit cards to stimulate growth in its retail banking business. The card category includes Yes Prosperity and Yes First (for high net worth customers). The bank will charge a minimum 1.2 percent interest per month on Yes First Credit Card. These credit cards are central to its customer acquisition plans as the bank has set a business target too control 18 percent of industry which is having a base of 5 million active card customers by 2020

As per the results of quarter ended June 2016, despite sharp spike in provisions, Net Profit of Yes Bank increased by 32.8 percent year on year to Rs 731.8 crore. The increase on Net Profit was largely attributable to a growth in net interest income, other income and operating profit. Net Interest Income, increased by 24.2 percent to Rs 1,316.6 crore aided by loan growth and CASA deposits. Provisions for bad loans increased 111 percent year on year and 10.8 percent quarter on quarter to Rs 206.6 crore for Q1FY17

04th May 16 Yes bank revises lending rate downwards

Yes Bank on Tuesday cut its MCLR by 0.10 per cent across tenors, reacting to similar moves by competition. Yes Bank one year MCLR will now be 9.5 per cent as against 9.6 per cent earlier. The MCLR cut is effective from May 1. Once the MCLR is reduced, all loans linked to it, including home, car, personal, and education, become a bit cheaper.

04th May 16 Yes bank revises lending rate downwards

Yes Bank on Tuesday cut its MCLR by 0.10 per cent across tenors, reacting to similar moves by competition. Yes Bank one year MCLR will now be 9.5 per cent as against 9.6 per cent earlier. The MCLR cut is effective from May 1. Once the MCLR is reduced, all loans linked to it, including home, car, personal, and education, become a bit cheaper.

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